As June rolled into an ATH, BTFD frenzy by the end of the month and even ending the month on a low-volume 1.5% mega rise on the last Friday of June starting from 3:59pm EST until 4:15pm, July will probably do the opposite in terms of pure percentage return.
July began predictably by extending June's rally, but with a very BIG twist. Even though trade relations between US and China are simmering, the Federal Reserve is likely going to spend the next 25 days talking down the market's expectation for a rate cute by July's meeting, due to a very bright jobs report reading printed on Friday.
Market expectations barely budged, calling for a July rate hike, so now Jerome Powell will likely take a less Dovish position this week before congress in order to bring expectations down. Expect this to weigh on the broader markets while at the same time Wal-Mart is experiencing an ATH combined with some serious loses in its Internet brand. We are talking loses without much guidance for future return. Seems like this is a great time to short WMT!
July began predictably by extending June's rally, but with a very BIG twist. Even though trade relations between US and China are simmering, the Federal Reserve is likely going to spend the next 25 days talking down the market's expectation for a rate cute by July's meeting, due to a very bright jobs report reading printed on Friday.
Market expectations barely budged, calling for a July rate hike, so now Jerome Powell will likely take a less Dovish position this week before congress in order to bring expectations down. Expect this to weigh on the broader markets while at the same time Wal-Mart is experiencing an ATH combined with some serious loses in its Internet brand. We are talking loses without much guidance for future return. Seems like this is a great time to short WMT!